DALLAS -- Dave & Buster's said it has filed a statement with the U.S. Securities and Exchange Commission for an initial public offering of its common stock.

According to news reports, the company hopes to raise $150 million with the planned offering. Oak Hill Capital Partners, the owner of the entertainment and restaurant chain, and other investors are expected to retain a majority of the company.

Dave & Buster's said the offering is expected to be made through an underwriting group led by Goldman Sachs & Co., Jefferies & Co. Inc. and Piper Jaffray & Co. It intends to use net proceeds from the offering to repay a portion of its outstanding debt.

The move continues D&B's long tradition of repeatedly cycling back and forth from publicly held to privately held status. The previous round of this cycle occurred in 2006 when Wellspring Capital & HBK Main Street Investors took the chain private. Four years later Oak Hill bought D&B's for $570 million.

Separately, D&B's opened its 25th store in Orlando, Florida on July 18. Founded in 1982, the company has sites in 24 states and in Canada.